IOCs

In a move to recoup over $1 trillion in unpaid taxes by oil multinationals, Nigerian National Petroleum Corporation (NNPC) and its Joint Ventures partners, the Federal Government has begun a tax audit of the corporation and international oil companies (IOCs).

The Federal Inland Revenue Service (FIRS), which confirmed the tax audit yesterday, maintained that the NNPC had already subjected itself and its books for the audit.

NNPC, in a statement yesterday, quoted the Chairman of FIRS, Mr. Tunde Fowler, as disclosing that […]